Thursday, 31 January 2019 05:41

SAP to cut 4400 jobs worldwide, including Australia Featured

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SAP to cut 4400 jobs worldwide, including Australia Pixabay

European multinational software company SAP has announced that it will restructure its operations this year, with expenses around this expected to be between €800 million to €950 million, as about 4400 staff are sacked worldwide.

Chief executive Bill McDermott told a media conference after the company announced results for the fourth quarter of 2018 this week: “We are going to move our people and our focus to the areas where the new economy needs SAP the most: artificial intelligence, deep machine learning, IoT, blockchain and quantum computing."

The cuts are expected to affect its Australian and New Zealand operations as well.

However, the workforce is expected to grow from the current level of 96,5000 with the sackings expected to cover job reassignments, early retirement and separation packages, The Wall Street Journal quoted McDermott as saying.

SAP's total revenue grew by 9.2% to us$7.43 billion for the quarter. New cloud bookings grew 25% in the quarter to US$841 million and cloud subscription and support revenue also went up, by 40%, to US$1.61 billion.

“This is a business model built for scale, growth and resilience,” McDermott said. “We will remain the fastest-growing business software company in the cloud at scale.

“Think about our core business as more focused on the value drivers,” he said, referring to the the S/4HANA enterprise resource planning system, Leonardo machine learning platform and the customer experience management business which was boosted by the purchase of Qualtrics International in November 2018.

“We’re going to double down on these things. We’re going to be in every market where we can get leverage.”

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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